The three major indices of A-shares in Shanghai and Shenzhen opened slightly higher, infrastructure and cement stocks softened, and Hengrui Pharma rose over 6%

AASTOCKS
2025.07.28 01:31

China and the United States will hold a new round of economic and trade talks in Stockholm, Sweden, starting today (the 28th), co-chaired by He Lifeng, a member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, and U.S. Treasury Secretary Janet Yellen. U.S. President Trump stated yesterday (the 27th) in Scotland, alongside European Commission President Ursula von der Leyen, that they are very close to reaching a trade agreement with China.

In the first half of the year, industrial profits in mainland China fell by 1.8%, with the decline in June narrowing to 4.3%. The People's Bank of China today conducted a seven-day reverse repurchase operation in the open market amounting to 495.8 billion yuan, with the operation rate remaining at 1.4%. Today, 170.7 billion yuan in reverse repos are set to mature, resulting in a net injection of 325.1 billion yuan for the day. The central parity rate of the yuan against the U.S. dollar is reported at 7.1467, down 48 points.

The three major indices of A-shares opened higher. The Shanghai Composite Index opened at 3,594 points, up less than 1 point or 0.02%. The Shenzhen Component Index opened at 11,176 points, up 8 points or 0.07%. The ChiNext Index opened up 6 points or 0.3%, at 2,346 points.

Shares of domestic banks, including China Construction Bank (601939.SH) and Industrial and Commercial Bank of China (601398.SH), opened flat.

Infrastructure and cement stocks softened, with China Power Construction (601669.SH), China Energy Engineering (601868.SH), and Huaxin Cement (600801.SH) opening down 1.5%-2%.

Stocks related to the Hainan Free Trade Zone retreated, with Hainan Airport (600515.SH) and Hainan Expressway (000886.SZ) opening down 2.8% and 1.1%, respectively.

Hengrui Pharma (600276.SH) has reached a cooperation agreement with GSK, granting exclusive global rights to multiple innovative drugs, with Hengrui eligible to receive a potential total amount of approximately $12 billion. The stock opened up 6.6%.

In addition, CATL (300750.SZ) opened slightly higher. BYD (002594.SZ) opened flat

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